KCCI Outperforms in Challenging Times

Recently, KCCI Research published a report: FY20 – KCCI Outperforms in Challenging Times

In the report titled FY20 – KCCI Outperforms in Challenging Times KCCI fought on all fronts for ensuring ease of doing business. It launched relentless efforts in the areas of policy environment,taxation and much more.Even during COVID-19, KCCI persuaded the government to reprioritize its resources to protect the business and industrial community in order to save the economy.Even though KCCI had been advocating for solving Karachi’s woes, especially in the areas of infrastructure development and provision of uninterrupted supplies of utilities, the chamber shifted gears after torrential rains in the city uncovered the scale of the problems for Karachiites.

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TODAY’S TOP NEWS

Petroleum prices cut by up to 2.5%

The govt. has reduced the prices of all the petroleum products by 1.6 to 2.5% for the next 15 days. According to a notification, the ex-depot price of petrol was reduced by PKR 1.79 to PKR 108.56, HSD by PKR 2.32 per liter to PKR 110.76, kerosene by PKR 2.06 per liter to PKR 80 and light diesel oil[…]

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FBR to bring down income tax slabs to five

FBR is contemplating different options to bring down the number of slabs for personal income tax from 11 to 5 in line with the UK model during the upcoming budget FY22. The govt. plans to introduce reforms in personal income tax in line with the IMF program whereby the burden of tax[…]

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CNIC/NTN requirement: Distributors, wholesalers face problem

Distributors and wholesalers are facing problems in implementation of CNIC/NTN requirement by FBR as the size of transactions of 75% to 80% of unregistered distributors and wholesalers are less than PKR 100,000. CNIC/NTN of all unregistered recipients of supplies along with the value of[…]

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New budget strategy to cut number of withholding taxes

The govt. has finalized a medium-term budget strategy paper to reduce number of withholding taxes and slash tax slabs for individual taxpayers. The draft of the medium-term budget strategy paper for next three fiscal years (FY22 to FY24) has been finalized, which primarily focuses on tax[…]

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